The government is required to award 23% of its contracts to small businesses. However getting a foot in the door and navigating the federal bureaucracy to land one of these deals can be daunting. Bidding for government contracts is a highly competitive process that is typically done online through the GSA schedules. Buyers will typically only reach out to the most responsive and responsible vendors who offer the lowest prices.
This is why Hector Barreto, a former administrator of the Small Business Administration has organized networking events to introduce the government and large corporations to small business. Business Matchmaking hosts events throughout the country to educate small business owners and put them in front of buyers. The events typically target minority, women, veteran and disabled veteran owned firms who are limited in their ability to gain exposure to contracts.
While the event is free, participating small businesses have to meet certain eligibility criteria. You must have a DUNS number and register with the Central Contractor Registration, the government’s primary vendor database. Event organizers pair small businesses with buyers based on the services offered and needed. When a business signs up, they get prepped so they can take advantage of every minute of face time. If there is not a strong fit between vendor and buyer, Business Matchmaking can suggest where to go at another agency.
Business Matchmaking is sponsored by SCORE and several major corporations (e.g., American Airlines, Microsoft). Organizers estimate that $7 billion to $8 billion in contracts have been purchased over the past three years from connections made at the networking events. And they have helped organize over 75,000 meetings.
This can be a strong lead generation tool for your business, so why not attend one of these events? At the least you can gain a list of relevant government contacts to follow up with after only several hours of attending.
The weak economy has impacted most businesses but the government has to keep operating and has to purchase new products or services. The government also purchases a variety of products from transportation to security guard services and janitorial services – and they pay on time!
You can find out about upcoming events in your area here. If you are a buyer, you can access the Portal for Buyers to get started. If you cannot attend one of these events, you can join the Business Matchmaking online network to connect with buyers and learn about program updates.
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